Benzinga | Dec 7, 2020 04:19PM EST

Volaris Announces Offering Of 120M Ordinary Participation Certificates In The Form Of ADSs

MEXICO CITY, Dec. 7, 2020 /PRNewswire/ -- Controladora Vuela Compa??a de Aviaci?n, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE:VLRS, BMV:VOLAR), an ultra-low-cost airline based in Mexico, announced today the launch of a primary follow-on equity offering in which the Company is offering 120,000,000 of its Ordinary Participation Certificates (Certificados de Participaci?n Ordinarios), or CPOs, in the form of American Depositary Shares, or ADSs, in the United States and other countries outside of Mexico, pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). Each ADS represents 10 CPOs and each CPO represents a financial interest in one Series A share of common stock of the Company. The Company currently intends to use the net proceeds from the offering for general corporate purposes. Morgan Stanley, Evercore ISI, Santander, Citigroup and BofA Securities are acting as underwriters in connection with the offering.